IVE PA, Periodic: Inventory costing methods P1 any reported the following January purchases and sales data for its only product. Data Jan. 1 Beginning inventory Sales Jan. 10 Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Activities Units Acquired at Cost 140 units @ $6.00 = $ 840 60 units @ $5.00 = 180 units @ $4.50 = 380 units 300 810 $1,950 Y Units Sold at Retail 100 units @ $15 80 units @ $15 180 units 1 pany uses a periodic inventory system. Determine the cost assigned to ending inventory and to cos specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and in For specific identification, ending inventory consists of 200 units, where 180 are from the Januar

Whats is LIFO?

Periodic: Inventory costing methods [[ P1 any reported the following January purchases and sales data for its only product. pany uses a periodic inventory system. Determine the cost assigned to ending inventory and to cos specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and ir For specific identification, ending inventory consists of 200 units, where 180 are from the Janua